Boyd Gaming (BYD) Upgraded at Bank of America
Bank of America upgraded shares of Boyd Gaming (NYSE:BYD) from a neutral rating to a buy rating in a research report released on Friday, Marketbeat reports. Bank of America currently has $42.00 price objective on the stock.
A number of other analysts have also weighed in on BYD. ValuEngine lowered shares of Boyd Gaming from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Boyd Gaming from a hold rating to a buy rating and set a $39.00 price target on the stock in a report on Wednesday, January 3rd. Stifel Nicolaus reaffirmed a hold rating on shares of Boyd Gaming in a report on Thursday, December 21st. Nomura raised their price target on shares of Boyd Gaming to $42.00 and gave the company a buy rating in a report on Tuesday, December 19th. Finally, Morgan Stanley set a $28.00 price target on shares of Boyd Gaming and gave the company a hold rating in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $30.80.
Boyd Gaming (NYSE:BYD) traded up $1.69 during trading hours on Friday, reaching $36.80. 2,265,500 shares of the company’s stock were exchanged, compared to its average volume of 1,541,250. The company has a market cap of $4,060.00, a price-to-earnings ratio of 44.34 and a beta of 1.82. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73. Boyd Gaming has a 1-year low of $19.19 and a 1-year high of $37.07.
Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $587.70 million for the quarter, compared to the consensus estimate of $592.29 million. Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. sell-side analysts anticipate that Boyd Gaming will post 1.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Thursday, December 28th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, December 27th. Boyd Gaming’s payout ratio is 24.10%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its holdings in shares of Boyd Gaming by 34.9% in the third quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after buying an additional 1,181,986 shares during the last quarter. State Street Corp boosted its holdings in shares of Boyd Gaming by 4.0% in the second quarter. State Street Corp now owns 1,951,576 shares of the company’s stock worth $48,421,000 after buying an additional 75,012 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Boyd Gaming by 10.4% in the third quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock worth $39,820,000 after buying an additional 143,680 shares during the last quarter. FMR LLC boosted its holdings in shares of Boyd Gaming by 531.0% in the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock worth $35,199,000 after buying an additional 1,193,874 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Boyd Gaming in the second quarter worth approximately $26,973,000. 76.22% of the stock is currently owned by institutional investors.
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About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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